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CoinNetwork

CryptoWorld News reports that, according to Livecoins, the Brazilian Federal Police (PF) launched an operation called "fluxo oculto (hidden flow of funds)" to investigate underground financial networks related to fuel industry tax fraud. The investigation shows that the involved gangs have transferred over 26 billion reais (about $4.6 billion USD) in the past four years, including approximately 365 million reais (about $65 million USD) in cryptocurrency transactions. Law enforcement has executed 59 search warrants in five states, including São Paulo and Rio de Janeiro, and is investigating six fintech companies suspected of acting as "underground banks."

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FeeMarketMonk
· 05-31 12:30
Brazil's initiative is impressive, executing 59 search warrants simultaneously.
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MACD_Bridgehead
· 05-31 06:58
Fintech companies as a guise, using old tricks again
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LateFeeLeo
· 05-30 13:36
The name "fluxo oculto" sounds quite cinematic.
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NonceWhisperer
· 05-30 01:23
Four years, 26 billion reais. Has anyone calculated how much money is laundered on average per day?
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HotAirBalloonViewingSchedule
· 05-30 01:14
Of the $4.6 billion, only $65 million is crypto; the proportion isn't actually that high.
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WaveApprentice
· 05-30 01:12
In Rio de Janeiro, you'll need armed guards to check this out.
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FloatingTeacup
· 05-30 01:11
Six fintech companies, it is estimated that their licenses will all be revoked.
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TheKiteNeverLands.
· 05-30 01:06
PF's move this time is quite significant; will it lead to more consequences later?
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StainedGlassSolarArray
· 05-30 01:04
Underground banks + cryptocurrencies, this combo sounds exciting.
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BluePeonyCalmingAgent
· 05-30 01:03
So it's the money from fuel fraud being laundered into crypto, not a problem with crypto itself.
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